DigitalOcean shares are trading lower after the company reported worse-than-expected Q2 sales results and issued Q3 and FY23 revenue guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
DigitalOcean reported lower than expected Q2 sales results and issued Q3 and FY23 revenue guidance below estimates, causing its shares to trade lower.
August 04, 2023 | 3:27 pm
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DigitalOcean's shares are trading lower due to worse-than-expected Q2 sales and lower revenue guidance for Q3 and FY23.
DigitalOcean's lower than expected Q2 sales and lower revenue guidance for Q3 and FY23 are negative indicators for the company's financial performance. This could lead to a decrease in investor confidence, resulting in a drop in the company's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100